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Pago46 develops a platform digitizing cash payments, enabling individuals to complete online transactions using physical money. It operates through a collaborative network of local partners, or Socio46, who serve as designated cash payment points. This infrastructure allows consumers to shop online without a bank account or credit card, offering merchants expanded access to a broader customer base.
Founded in 2014 by Garland Wong in Santiago, Chile, Pago46 addresses Latin America's financial inclusion gap. Wong identified the critical need for a payment system integrating the region's unbanked population into the burgeoning e-commerce sector, bridging cash with the digital economy. This strategic insight led to the creation of a network-based solution for digital access.
Pago46 primarily serves unbanked and underbanked populations across Latin American nations, including Ecuador, Chile, Argentina, Mexico, and Peru, empowering their digital marketplace participation. The company's vision focuses on fostering financial inclusion by seamlessly connecting physical cash with the digital realm, enhancing economic opportunities for millions.
Pago 46 has raised $2.0M across 1 funding round.
Pago 46 has raised $2.0M in total across 1 funding round.
Pago 46 has raised $2.0M in total across 1 funding round.
Pago 46's investors include Alaya Capital, COREangels, Amit Mukherjee, ArcTern Ventures, Costanoa Ventures, Greg Papadopoulos, Hiro Capital, Kleiner Perkins.
Pago 46 has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in April 2016.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2016 | $2M Seed | — | Alaya Capital, Coreangels, Amit Mukherjee, ArcTern Ventures, Costanoa Ventures, Greg Papadopoulos, Hiro Capital, Kleiner Perkins | Announced |
Pago46 is a fintech platform that enables cash payments for online purchases across Latin America, allowing consumers to pay without credit cards or bank accounts by generating QR codes for cash handover at nearby points or via on-demand collectors.[1][2][3] It serves merchants, consumers, and a network of "46ers" (collectors who earn commissions), solving the problem of financial exclusion in regions with high cash usage and low card penetration by bridging digital commerce with physical cash.[1][3] Operating in Chile, Argentina, Ecuador, Mexico, and Peru—with expansion to Uruguay planned—the company has around 25 employees, revenue under $5 million, and supports cash-in (payments) and cash-out (payouts) for e-commerce, apps, and services like bill payments or subscriptions.[1][2][4]
Pago46 emerged as Latin America's first on-demand cash collection network, headquartered in Santiago, Chile, with a presence also noted in Quito, Ecuador.[1][2][4] While specific founding year and founders are not detailed in available sources, the platform's patent-pending technology was designed to address the gap in online shopping for unbanked populations, powering a community of merchants, consumers, and 46ers from its early days.[1][3] Key early traction includes building the largest regional cash payment network, integrating with external points like CajaVecina (Chile) and RapiPago (Argentina), and expanding operations across five countries, enabling 24/7 cash processing via websites, apps, or chats.[2][3]
Pago46 rides the fintech inclusion wave in Latin America, where over 50% of adults remain unbanked and cash dominates transactions despite e-commerce growth.[3] Its timing aligns with rising digital adoption post-pandemic, surging online sales, and demand for hybrid payment rails amid economic volatility favoring cash.[2] Market forces like low credit card penetration (e.g., in Peru and Ecuador) and regulatory pushes for financial access amplify its relevance, positioning it as infrastructure that digitizes cash to unlock e-commerce for underserved segments.[1][3] By fostering a 46er ecosystem, it influences the startup scene by enabling merchants to expand reach without payment gateways, boosting conversion rates and reducing cart abandonment in high-cash economies.[1][2]
Pago46 is poised for acceleration through Uruguay rollout and deeper external network ties, potentially dominating cash-digitization as LatAm e-commerce hits $200B+ annually.[2][3] Trends like embedded finance, agent banking, and mobile money proliferation will fuel its growth, with 46er commissions driving viral adoption amid gig economy rises. Its influence may evolve into a full cash API layer for platforms, cementing it as essential plumbing for inclusive digital economies—transforming how unbanked users shop online, just as it started by empowering that first cash handover.[1][3]
